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Regulatory Framework

As an Authority, we recognize that regulation as a means to an important end is essential for the proper functioning of the insurance industry. To ensure that the industry reaps the benefits from a globally competitive financial services sector, the sector has to remain efficient, flexible and responsive to emerging trends i.e. effective in addressing identified problem and efficient in maximizing benefits to the economy. While issuing guidelines and circulars to the industry, we are often alive key drivers for enhancing industry productivity such as technological change (adopting new knowledge), investment in human and physical capital. Such regulation ensures that there are productivity and growth gains as well competition and investment.

Regulations used for the insurance industry in Kenya include the Insurance Act Cap 487 and its accompanying Schedules and Regulations. Circulars and Guidelines are normally issued by the Commissioner of Insurance/Chief Executive Officer of IRA detailing provisions that insurance/re-insurance companies and intermediaries need to comply with. These rules are issued with an expectation of compliance that is done through surveillance and inspections.

Insurance & Reinsurance Companies  Brokers & Medical Insurance Providers (MIPs)  Agents & Other Service Providers Investor Information
Insurance Act Insurance Act Insurance Act  
Draft Insurance Bill 2014- version 003 Draft Insurance Bill 2014- version 003 Draft Insurance Bill 2014- version 003  
Regulations to the Insurers Circulars to MIPs Circulars to Agents  
Guidelines to Insurers Circulars to Brokers Circulars to Service Providers  
Schedules to Insurers Standardized Insurance Policies    Guidelines to Agents  
Standardized Insurance Policies     
Circulars to Insurers  
Standardized Insurance Policies  
Product Approvals